Thorchain (RUNE) about to go 1100%?Dearest reader,
Welcome back for yet another great analysis, there is alot to unpack on the chart above so lets dive right in. Thorchain has seen a brutal crash/retrace of a whopping 87% since december regarding their financial situation around the thorfi hack. There is always something right? Ignore the FUD and look at the chart, it's screaming ''buy buy buy!''
Lets go through the chart from left to right.
1. Lower support line, has seen 5 confirmations so far, dating back all the way to 2020 (Small 1's)
2. Bullflag. Has seen 6 confirmations of this channel (green circles) and had a breakout in november 2023
3. Retest of BOTH 1 and 2, the upper line of the bullflag and also the support line since 2020
4. Stochastic RSI is oversold, sellers are exhausted, makes sense! it has seen a 87% drop allready. MFI has seen the lowest point in the history of this token (17) and has been moving back up. Note: Stochastic RSI is a lagging indicator and MFI is forward looking. Both look bullish
If the pattern from 2020 would repeat that could mean that by august this year we will see a price of 11 dollars yet again, that's a whopping 1100% from this point.
Target: 11/12$
Entry: 1$
Stoploss: 0.75$ (There is some support here, so even when this area is hit it might still bounce up.
~Rustle
Runes
The Dump & Hold Strategy ($70.94 SOON?)URGENT INSIGHTS:
According to my charts, we're either heading into a crappy 20-year downturn... or a 11,000% increase to $70.94 upside depending on your position!
It is now simultaneously optimal to short while going long and/or sell pre-buy, unless of course you're bullish, in which case ensure your purchase precedes your liquidation, but only if your gains are already post-realized prior to any re-entry in either direction, but be sure to hedge.
JUST REMEMBER:
No matter how long the struggle, there’s always relief.
I'm not a financial advisor.
Price Action to accumulate Magic Eden before Explosion! -14.5M BMV:ME blocked on Staking
-46k Staker Users.
-First Stake Reward will be given in 3Months. (Unclaimed tokens 17M + 70M Airdrop)
Crash is slowing down, I start my accumulation phase at 2.80$ and I will keep making fractional buys if the price stays bettwen 2.80$ to 1.90$ where I do believe it will be the very DIP of BMV:ME
Milestone: Bitcoin Transaction Count Hits New All-Time HighBitcoin hit a new all-time high in daily transactions!
Following the launch of Runes, a new token protocol that allows the launching of tokens/NFTs on Bitcoin, the number of Bitcoin transactions has increased rapidly.
This spike in activity led to a new all-time high in daily transactions on Bitcoin of 927,000. This breaks the previous high of 724k set in December of 2023.
While there is no clear correlation between transaction data and price, higher transactions do mean more on-chain activity, which is generally a positive sign.